Based on the data provided, the forecasted import of Wire of Silico-Manganese Steel to the Philippines shows a consistent growth trend from 2024 to 2028, starting at 1.6377 million kilograms in 2024 and reaching 1.7676 million kilograms in 2028. In 2023, the actual import was 1.6 million kilograms, indicating the forecasted values are relatively close.
The year-on-year percentage variations are steady, showing a consistent growth pattern:
2024 to 2025: 2.03%
2025 to 2026: 1.97%
2026 to 2027: 1.89%
2027 to 2028: 1.81%
The compound annual growth rate (CAGR) over the last five years stands at approximately 2%. This consistent growth indicates stable demand.
Future trends to watch for include fluctuations in global steel prices, technological advancements in steel manufacturing, and potential shifts in trade policies that could impact the import volume in the coming years.
